Brussels backs WestLB break-up plan

European competition authorities agreed in December 2011 on a break-up and wind-down plan for WestLB, spelling the imminent demise of the Landesbank and ending a cycle of crises that came to epitomise lax controls and excessive risk-taking by German public-sector banks.

ESO: Background information: Brussels frustrated on WestLB restructuring http://www.europeansources.info/record/brussels-frustrated-on-westlb-restructuring/

European Commission:RAPID: Press Release, IP/11/1576: State aid: Commission approves split-up of WestLB http://europa.eu/rapid/pressReleasesAction.do?reference=IP/11/1576&format=PDF&aged=0&language=EN&guiLanguage=en

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